MANILA, Philippines -- The Antonio Tiu-led Philippine Infradev Holdings Inc. has submitted to Makati City the US$350 million performance bond for a 10-kilometer intra-city subway project under the public-private partnership framework, paving the way for the signing of a joint venture agreement on Tuesday. The Infradev board approved a resolution on the joint venture with the Makati City government in connection with this project. Also referred to as a contract bond, a performance bond is issued to one party of a contract as a guarantee against the failure of the other party to meet obligations specified in the contract. The Makati subw...
Keep on reading: Infradev submits $350M bond for Makati subway project
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